NIO’s Shares Surge After Going Public

Shares in NIO have surged since the Chinese company filed for an initial public offering on the New York Stock Exchange, raising $1 billion recently.

Although it was somewhat short of its desired $1.8 billion, shares have gained 46 percent since the IPO earlier this month, to make the electric car manufacturer the 29th most-held stock on the NYSE.

Having currently sold only 1,600 cars and generating approximately $7 million in revenue, NIO is anticipated to use the stock exchange again next year to raise more financial resources for its bold future plans.

The company continues to be backed by Tencent, one of the world’s leading and largest internet and entertainment businesses.

The initial value of the IPO earlier this month is said to have been troubled by tension in U.S.-China trade relations that has reportedly affected share prices in China and Hong Kong.

NIO was founded in 2014 by NextEV’s William Li and immediately produced the NIO EP9 track car, which was partly managed and operationally run by its Formula E team.

The EP9 went on to set fastest laps for an electric vehicle at the Circuit of The Americas, Shanghai and Circuit Paul Ricard, as well as achieving a 6:45 lap at the Nürburgring Nordschleife which was, at the time, the fastest ever for an electric car.

NIO has two other all-electric models on the marketplace, the ES8 and ES6 SUVs.

Earlier this year, it showcased its first ‘three-minute battery swap station’ in Shenzhen, with at least 1,100 stations set to be built in China by 2020.

Sam Smith is e-racing365's Formula E Editor. A 20-year veteran in motorsports media, including press officer roles in both the FIA Sportscar Championship and at Lola Group, Smith is a well-known face in the Formula E paddock, where he served as series editor for Motorsport.com from 2014-17. Contact Sam